Big Dumps on Black Friday? - page 2.

1Referee

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Quote from: lumeire on November 29, 2015, 02:12:51 AM

Quote from: pissedoff on November 29, 2015, 01:38:50 AM

Quote from: jaylin on November 29, 2015, 01:31:45 AM

Doesn't make much sense for a dump right now

Why not? Most of the merchants who sold goods/Digital Goods for bitcoins on black friday will want to cash out into fiat.

Black Friday is mostly for the US I suppose. Since a huge chunk of volume comes from China, even if US merchants cashed out into fiat Chinese traders will still cover for them. Overall I think we won't see an effect.

So far there doesn't seem to be much effect on the Bitcoin price. Here in Europe where I live, black friday is quite calm, not much action here as we are more interested in the Christmas time. That's when the people here go nuts on buying stuff.

uki

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Quote from: lumeire on November 29, 2015, 02:12:51 AM

Black Friday is mostly for the US I suppose. Since a huge chunk of volume comes from China, even if US merchants cashed out into fiat Chinese traders will still cover for them. Overall I think we won't see an effect.

With the market globalisation, and Bitcoin being also one part of it, I think that we may see some non-negligible effect on the price of Bitcoin. Nevertheless, the range of such movement is small, as there no further Bitcoin-important events happening. Halving is still far away ahead, and recently we didn't hear any thing either very positive or very negative to significantly move the price. That is why such a secondary (in Bitcoin terms) event as Black Friday may have some little impact on price.

Amph

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Quote from: pissedoff on November 29, 2015, 01:38:50 AM

Quote from: jaylin on November 29, 2015, 01:31:45 AM

Doesn't make much sense for a dump right now

Why not? Most of the merchants who sold goods/Digital Goods for bitcoins on black friday will want to cash out into fiat.

and why? they can hold like any other human, and speculate, or simply use those bitcoin to buy thing that they needed, without dumping each time

remember that the final point of bitcoin, is to be used without the need of fiat

lumeire

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Quote from: pissedoff on November 29, 2015, 01:38:50 AM

Quote from: jaylin on November 29, 2015, 01:31:45 AM

Doesn't make much sense for a dump right now

Why not? Most of the merchants who sold goods/Digital Goods for bitcoins on black friday will want to cash out into fiat.

Black Friday is mostly for the US I suppose. Since a huge chunk of volume comes from China, even if US merchants cashed out into fiat Chinese traders will still cover for them. Overall I think we won't see an effect.

pissedoff

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Quote from: jaylin on November 29, 2015, 01:31:45 AM

Doesn't make much sense for a dump right now

Why not? Most of the merchants who sold goods/Digital Goods for bitcoins on black friday will want to cash out into fiat.

jaylin

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Doesn't make much sense for a dump right now

pissedoff

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Quote from: The KGB on November 28, 2015, 04:31:23 PM

OKCoin wants this party to keep going it seems, any dump will be gobbled up quickly.

If a major dump happens even OKPay cannot gobble up the losses easily even Mt.Gox cannot do it if there where still in business.

eddie13

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Maybe it'll all just even out.
I bet the things most people spent there black Friday BTC on are made in china. China gets there profits from all the american sheep that buy chineese crap and then they buy BTC with it..

The KGB

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OKCoin wants this party to keep going it seems, any dump will be gobbled up quickly.

jaredboice

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Quote from: Oscoda on November 28, 2015, 03:35:36 PM

The black friday dump did not happen so the future is bright.

I don't think you understand what black friday dump is. It doesn't happen on black friday, never did. It happens when all the merchants and payment processors have to dump the bitcoins they got back onto the market. This usually happens anytime from now until the end of next week.

Last year it lasted a bit longer, price didn't stop falling until we hit $166 Sad

If we actually went below $200 again, it would take all of 5 minutes for it to bounce back over $300. Bottom is in. So sowwy to bears

uki

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Quote from: Oscoda on November 28, 2015, 03:35:36 PM

That's the best right. We came from 200. Got a lot of support @ 300.

Now the goal is set on 400 dollar. Let's see where we will be end of this year.

The black friday dump did not happen so the future is bright.

We are not out of the woods as of yet. The price has stabilised at around $350, but that does not mean we won't revisit low $300 in what remains of the year.
For now, there are no fundamental reasons, neither bitcoin positive news to fuel the next speculative leg up.

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Quote from: jaredboice on November 28, 2015, 12:46:18 PM

Quote from: ?? on ??

Quote from: Alley on November 28, 2015, 11:37:40 AM

About 30k more transactions yesterday then a typical weekday too.

The rebound's gunna be brutal...

I know right? Check out the rebound of the price from below $200s and now up over 50% from the lows. Still up over 3 Million Percent since inception too. This rebound is still in effect and the extent of the bounce will likely go much higher than most could have imagined

That's the best right. We came from 200. Got a lot of support @ 300.

Now the goal is set on 400 dollar. Let's see where we will be end of this year.

The black friday dump did not happen so the future is bright.

jaredboice

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Bitcoin criminal jaredboyce:
I have been contacted by your ~~parents~~ psychiatrist, to inform me that your disgusting Assburgers condition has been further complicated by a horrible case echolalia Sad

plz get well soon

Dear Troll who claims I'm on ignore yet continues to spew her filth, quit licking your ass so much and quit coming back to a forum every five minutes about a topic you claimed in another thread was, " a honeypot for dangerous batshit crazies with a grudge against society..."

Everybody in the bitcoin universe can see through your bullshit. You're just wasting your own time at this point

jaredboice

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Dear Bitcoin Criminal jaredboice:
Kindly stop spamming my inbox, or face being reported to the forum authorities.
Do not reply to my posts, your account has been placed on ignore.
Also, I'm not buying your too-convenient "But I got Assburgers!!!1!" story.
As debilitating and nasty as your Assburgers condition may be, it is not an excuse Angry

Dear Bitcoin Troll/Shill
Kindly Stop Harassing me on the Bitcoin Forum and I will stop reflecting your bullshit right back at you.
If you fail to stop harassing me for speaking facts, I will report you to the forum authorities. Stop replying to my posts... but if you have me on ignore then why do you continue responding?
Also, I'm not buying your too-convenient, "I like to lick my own asshole" story.
As debilitating and nasty as your tail-wagging-the-dog condition may be, it is still not an excuse Shocked

ultimatesky

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Quote from: lemipawa on November 28, 2015, 11:46:53 AM

Congrats to those who believed that rate will again increase during the black friday event and buy BTC at $320 rate, you guys just earned and extra $30 per BTC. As for me I decided to be an observer only.

Lol this exactly, I've said it last week that I wouldn't expect much and would just wait out and see what would happen. Nothing much has happened so far.

Let's hope some action happen soon

jaredboice

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Quote from: ?? on ??

Quote from: Alley on November 28, 2015, 11:37:40 AM

About 30k more transactions yesterday then a typical weekday too.

The rebound's gunna be brutal...

I know right? Check out the rebound of the price from below $200s and now up over 50% from the lows. Still up over 3 Million Percent since inception too. This rebound is still in effect and the extent of the bounce will likely go much higher than most could have imagined

lemipawa

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Congrats to those who believed that rate will again increase during the black friday event and buy BTC at $320 rate, you guys just earned and extra $30 per BTC. As for me I decided to be an observer only.

Alley

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About 30k more transactions yesterday then a typical weekday too.

quadriple7

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the price doesnt seem to fall a lot right now lets hope there wont be any dumps

ThunderThomas

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It seems to have stabilized, not too bad at a $350. We'll just have to see what happens next week.

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